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Dec 27, 2012
12/12
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FOXNEWSW
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none of us want tax increases but at the end of the day trillion dollars deficits are bad, too. trillion dollars deficits every year as far as the eye can see, that's a tax on our kids, our grandchildren, on people who have saved their whole lives and done the responsible things. trillion dollars deficits are a tax, too, and that's what we have to understand. >> it's not good leadership to pass the buck, especially on future generations. they don't deserve to pay for our problems ander responsibility. what do you think is the biggest problem with raising taxes on the wealthy? it's so easy for them to say raise the taxes on the rich, punish them? >> well, the president likes to say the rich needs to pay their fair share for the tax burden of the united states. the funny thing is, actually 23 you look at all the developed countries in the world, the u.s. tax code is the most progressive in the entire world. the wealthiest americans pay the largest share of the tax burden in the u.s., much more so than in european countries. >> the boehner plan b and the some of the things the pres
none of us want tax increases but at the end of the day trillion dollars deficits are bad, too. trillion dollars deficits every year as far as the eye can see, that's a tax on our kids, our grandchildren, on people who have saved their whole lives and done the responsible things. trillion dollars deficits are a tax, too, and that's what we have to understand. >> it's not good leadership to pass the buck, especially on future generations. they don't deserve to pay for our problems ander...
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Dec 30, 2012
12/12
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separately is how do we bring down our deficit? do we attack social security entitlements, medicare, medicaid and that's this ideological struggle we're seeing between democrats and republicans that will continue in a series of skirmishes probably over the debt ceiling come february and ongoing until they finally have it out and resolve this for the long term. >> i think the white house's view in political terms is that how he handles himself on this sets the terms of engagement for those subsequent fights. again, a few weeks ago, when i was talking to people at the white house about how they were going to strategize this, they said look, this is a re-set moment and we've got to re-set sort of the balance of power from the 2011 talks. >> i think it's worth emphasizing on the numbers you mentioned the public overwhelming supports raises faxes on the wealthy but on the spending cuts they oppose cutting those programs in large numbers. when you get specific about that, don't cut that, don't cut that. >> hands off medicare. >> the pres
separately is how do we bring down our deficit? do we attack social security entitlements, medicare, medicaid and that's this ideological struggle we're seeing between democrats and republicans that will continue in a series of skirmishes probably over the debt ceiling come february and ongoing until they finally have it out and resolve this for the long term. >> i think the white house's view in political terms is that how he handles himself on this sets the terms of engagement for those...
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Dec 30, 2012
12/12
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KPIX
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might look like but will it actually do anything to cut the deficit? and what happens nay don't get a deal? we'll hear from two senators who have been working together on deficit reduction, assistant majority leader dick durbin of illinois, and senator tom coburn of oklahoma. then we'll look forward to 2013 with an all-star panel include peggy noonan of the "wall street journal." dee dee myers of "vanity fair." "time" magazine's executive editor michae michael duffy, and also "time" columnist joe klein. and we'll hear from major garrett and nancy cordes. >> you going to get a deal today, sir? >> hope so. >> o'donnell: it's all ahead because this is "face the nation." captioning sponsored by cbs from cbs news in washington, "face the nation" with bob schieffer. substituting for bob schieffer, cohost of "cbs this morning," norah o'donnell. >> o'donnell: good morning, again. tom coburn and dick durbin are here, and we'll turn to both of you in just a moment. but we want to start with some new information from chief white house correspondent major garrett
might look like but will it actually do anything to cut the deficit? and what happens nay don't get a deal? we'll hear from two senators who have been working together on deficit reduction, assistant majority leader dick durbin of illinois, and senator tom coburn of oklahoma. then we'll look forward to 2013 with an all-star panel include peggy noonan of the "wall street journal." dee dee myers of "vanity fair." "time" magazine's executive editor michae michael...
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Dec 23, 2012
12/12
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CNNW
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it takes a huge bite out of the deficit, but on balance neither side wants to do that today, but, you know, for republicans i think that's a tougher world to swallow. many suggest if you go over the cliff, they come back and then have to agree to extend the tax rates for everybody below some number. # >> that debt deal turns out to be brilliant or something. >> what starts to matter at that point, the simpson-bowles commission, that president obama didn't want to appoint and didn't pay attention to, that's front and center. the blueprint for how we move on. these two guys took on a task that was a fool's errands we thought, what happens to the commissions, nothing. we go back to them. >> let's talk about the die nam mick between senator reid and mcconnell. ball is in your court. are these two capable of coming up with something that the senate could pass but more importantly the house could pass? >> they're going to have to try by new year's eve here. >> three days, four days. >> it's interesting senator reid said he would like governor neil abercrombie to appoint the replacement for
it takes a huge bite out of the deficit, but on balance neither side wants to do that today, but, you know, for republicans i think that's a tougher world to swallow. many suggest if you go over the cliff, they come back and then have to agree to extend the tax rates for everybody below some number. # >> that debt deal turns out to be brilliant or something. >> what starts to matter at that point, the simpson-bowles commission, that president obama didn't want to appoint and didn't...
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Dec 30, 2012
12/12
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reduce the deficit by 10 or 12%. so it's a question at this point of what sort of hollow, empty meaningless symbolic gesture daus washington want to make and how many group of people do they want on the altar to make that gesture. >> what's so interesting here is that we're talking about the republicans fighting to protect 1.2% of the american public from a tax increase. 98.2% of taxpayers are below the $250,000 threshold so it's kind of amazing in congress, particularly when we're talking about the house, that he's made a pledge around tacks that its willing to allow 98.2% of americans to pay more by going over -- around this curve, it's more of a curve than a cliff. but i think the issue of the deficit is important. i don't think it's a symbolic gesture. one of the things that we've seen is $200 million we've started carving off the deficit. and the question is the time frame of deficit reduction, right? it's how fast, over what time trajectory do we see health? we've been making improvements over the past three ye
reduce the deficit by 10 or 12%. so it's a question at this point of what sort of hollow, empty meaningless symbolic gesture daus washington want to make and how many group of people do they want on the altar to make that gesture. >> what's so interesting here is that we're talking about the republicans fighting to protect 1.2% of the american public from a tax increase. 98.2% of taxpayers are below the $250,000 threshold so it's kind of amazing in congress, particularly when we're...
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Dec 30, 2012
12/12
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KGO
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this is a good deficit -- solid deficit reduction proposal. my great fear is they will make a deal and simply kick the can down the road and i think that may happen. it would be too bad. the right deal is to really take a big bite out of the deficit. you go back to the clinton tax rates and make some significant cuts and you cut the defense department, which hasn't been cut in 30 years. >> maggie, looks like we will get exactly what the governor just -- i mean assuming they get -- and what was your take listening to schumer and kyl? >> my take was there has not been that much progress. my take on labrador -- >> they sounded so optimistic. because that's where the deal >> well, they did. they both did because that's where the deal is being discussed in the senate. with the discussion with the house members that i found much more contentious and sort of interesting about where we are and that i think is of real concern. i do think that some senate democrats and some liberal members of the house would like to see the cliff gone over. they think t
this is a good deficit -- solid deficit reduction proposal. my great fear is they will make a deal and simply kick the can down the road and i think that may happen. it would be too bad. the right deal is to really take a big bite out of the deficit. you go back to the clinton tax rates and make some significant cuts and you cut the defense department, which hasn't been cut in 30 years. >> maggie, looks like we will get exactly what the governor just -- i mean assuming they get -- and...
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Dec 27, 2012
12/12
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CNBC
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direct limb reply indicated in the fiscal cliff talks but it is relevant to the larger issue of debt and deficits. the treasury can move money around in certain ways to extend the point where we actually reach a crisis for probably a couple of months. but this is an early warning sign. secondly, republicans in the house sent word to democrats in the senate, white house, it is your turn now. we acted to put off the fiscal cliff several months ago with a bill that without objection tend all of those bush tax rates into the future and would turn off the sequester by switching defense cuts over to domestic programs. democrats, of course have no intention of doing that. especially after president obama won the election. senate democratic leadership aide tells me that will remains a 50/50 chance we will get a mini deal temporary extension of tax cuts under $250,000 before the january 1 deadline when we would go over the cliff. will are no assurances of that. a white house official told me as president obama prepares to fly back to conduct and participate in the negotiations at the end, there has been n
direct limb reply indicated in the fiscal cliff talks but it is relevant to the larger issue of debt and deficits. the treasury can move money around in certain ways to extend the point where we actually reach a crisis for probably a couple of months. but this is an early warning sign. secondly, republicans in the house sent word to democrats in the senate, white house, it is your turn now. we acted to put off the fiscal cliff several months ago with a bill that without objection tend all of...
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Dec 29, 2012
12/12
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this is not a deficit reduction deal that will stabilize the debt to gdp ratio and that has to be -- that has to be one of the goals of a broader deal that now we're probably going to be looking for on the other side of the cliff. >> yeah. i don't know. it doesn't seem to be any part of the president's goal. jared, good to see you always. jimmy, you, too. we'll get you guys back in just a few minutes. we'll get you to the roundtable if you haven't had enough yet. what will it mean for banks? new analysis shows that the expiration ever tax cuts will improve bank savings in 2013, by, listen to this, 54%. in other words, people will need to pull their cash savings out to pay for higher taxes. here now is dan geller, executive vice president of market rates insight. dan, good to have you here. walk me through this math. you're saying the average american is going to put 54% less into savings this year because if we go over the fiscal cliff? explain. >> yeah. let's go back, michelle because the amount of taxation on an average household is effort mated at $2600, and right now the average
this is not a deficit reduction deal that will stabilize the debt to gdp ratio and that has to be -- that has to be one of the goals of a broader deal that now we're probably going to be looking for on the other side of the cliff. >> yeah. i don't know. it doesn't seem to be any part of the president's goal. jared, good to see you always. jimmy, you, too. we'll get you guys back in just a few minutes. we'll get you to the roundtable if you haven't had enough yet. what will it mean for...
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Dec 26, 2012
12/12
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they say they want deficit reduction. if you go over the cliff, you get deficit reduction, you just don't get it in the responsible, accountable way. it's like chopping off on arm. >> like says i want a shower, i'm going to niagra falls. >> they still can't get it done. we're dysfunctional. no other explanation. >> i think they can stop the roller coaster and make it go. they're doing a dance now because republicans don't want to do something to rates. obama wants to play hardball. but i think they'll have a different argument later in the year. >> i guess both believe it's better to go over the falls than cut a deal that's going to hurt them at home. tea party people don't respond to boehner or to cantor or mccarthy or any of them. somebody in the next tea party is going to be yelling from the back, you sold us out. i think that's why the tea party is never going to be functional. they don't really respond to getting things done. they respond to anger back home. >> i think 2014 democrats are also aware of these tax incre
they say they want deficit reduction. if you go over the cliff, you get deficit reduction, you just don't get it in the responsible, accountable way. it's like chopping off on arm. >> like says i want a shower, i'm going to niagra falls. >> they still can't get it done. we're dysfunctional. no other explanation. >> i think they can stop the roller coaster and make it go. they're doing a dance now because republicans don't want to do something to rates. obama wants to play...
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Dec 30, 2012
12/12
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WTTG
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, it is 6 or 7% and i don't believe all of it will go on the deficit. when we raised the debt ceiling in august of 2011, we borrowed $2.1 billion. we spent that much money, in 17 months. why would i raise the debt ceiling again, unless we address what put us in debt to begin with? i'm not going to raise the debt ceiling unless we get serious about keeping the country from becoming greece, and social security and medicare, here's what i would like, meaningful entitlement reform, not to turn social security into private accounts, not to take a voucher approach to medicare. but, adjust the age for social security, cpi changes and means testing and look beyond the ten-year window. i cannot in good conscience raise the debt ceiling without addressing the long term debt problems of this country and i will not. >> chris: and, senator feinstein, you heard president obama say we have to get out of the habit and will not start trading debt ceiling increases for spending cuts. >> i think the key to what he is saying is that you don't affect people at this time. wh
, it is 6 or 7% and i don't believe all of it will go on the deficit. when we raised the debt ceiling in august of 2011, we borrowed $2.1 billion. we spent that much money, in 17 months. why would i raise the debt ceiling again, unless we address what put us in debt to begin with? i'm not going to raise the debt ceiling unless we get serious about keeping the country from becoming greece, and social security and medicare, here's what i would like, meaningful entitlement reform, not to turn...
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Dec 25, 2012
12/12
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LINKTV
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>> attention deficit hyperactivity disorder. and there are about half-a- million kids in this country receiving heavy-duty anti- psychotic medications, medications such as are usually given to adult schizophrenics to regulate their hallucinations. but in this case, children are getting it to control their behavior. so what we have is a massive social experiment of the chemical control of children's behavior, with no idea of the long-term consequences of these heavy-duty anti-psychotics on kids. and i know that canadians statistics just last week showed that within last five years, 43 there's been a 43 percent increase in the rate of dispensing of stimulant prescriptions for add or adhd, and most of these are going to boys. in other words, what we're seeing is an unprecedented burgeoning of the diagnosis. and i should say, really, i'm talking about, more broadly speaking, what i would call the destruction of american childhood, because add is just a template, or it's just an example of what's going on. in fact, according to a rec
>> attention deficit hyperactivity disorder. and there are about half-a- million kids in this country receiving heavy-duty anti- psychotic medications, medications such as are usually given to adult schizophrenics to regulate their hallucinations. but in this case, children are getting it to control their behavior. so what we have is a massive social experiment of the chemical control of children's behavior, with no idea of the long-term consequences of these heavy-duty anti-psychotics on...
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Dec 24, 2012
12/12
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MSNBCW
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doesn't contribute to the deficit. and we're talking about the deficit. why should social security be discussed in that context? >> completely off the table? >> absolutely. absolutely. and that was the -- and that was our position during the campaign. social security has nothing to do with the deficit. does not contribute to it. walled off from it. its own trust fund with $2.7 trillion in it at the moment. and the american people by huge majorities say we shouldn't be cutting social security or for that matter medicare benefits. you can cut medicare in ways you don't cut benefits and the hypocrisy of republicans that said that democrats are terrible because they took $716 billion from medicare for obama care and what do we want to do? pocket the cuts and add more. our chief demand is entitlement cuts. medicare and social security. >> talk about the debt ceiling and where this is played in to this conversation. that is coming up in february or supposed to come up in february. john boehner made the offer to take it off the table for a year but i want to sho
doesn't contribute to the deficit. and we're talking about the deficit. why should social security be discussed in that context? >> completely off the table? >> absolutely. absolutely. and that was the -- and that was our position during the campaign. social security has nothing to do with the deficit. does not contribute to it. walled off from it. its own trust fund with $2.7 trillion in it at the moment. and the american people by huge majorities say we shouldn't be cutting social...
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Dec 30, 2012
12/12
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we still have a huge deficit. if we do not take on spending, then the cliff may not seem like a cliff but will be a downward slide to make us like greece. no lodnger a viable economic power. >> hang on. we'll continue this. we have to take a quick break. the fiscal cliff has the president sounding like new york yankees legend yoeg gi ber ra. >> this is deja shz vu all over again. americans want to know why you can't get stuff down in an organized timetable. >> so if we all saw it coming, why did congress wait so long to do something about it? why do toys for tots and hasbro trust duracell to power their donated toys? duralock power preserve. it locks in power for up to 10 years in storage. guaranteed. duracell with duralock. trusted everywhere. anyone have occasional constipation, diarrhea, gas, bloating? yeah. one phillips' colon health probiotic cap each day helps defend against these digestive issues with three strains of good bacteria. approved! [ female announcer ] live the regular life. phillips'. >>> we are
we still have a huge deficit. if we do not take on spending, then the cliff may not seem like a cliff but will be a downward slide to make us like greece. no lodnger a viable economic power. >> hang on. we'll continue this. we have to take a quick break. the fiscal cliff has the president sounding like new york yankees legend yoeg gi ber ra. >> this is deja shz vu all over again. americans want to know why you can't get stuff down in an organized timetable. >> so if we all saw...
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Dec 30, 2012
12/12
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WUSA
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i think there is a deficit there of very broad-minded leadership, and there is certainly a deficit of trust between the congress and the president, and 20 republican in congress and the democrats. so plenty of fault to go around. >> o'donnell: dee dee, what about that? mitch mcconnell, who is really now at the heart of make something sort of deal today about how far he can take republicans, he says the president called him last week. it was the first time he's talked to the president since november 16. why is-- is there something the president is responsible for that he's not reached out enough to republicans and established that kind of trust that there has been lacking? >> look, i would have liked to have seen the president do more reaching out during the entirety of his first term. keep in mind, the president has been negotiating with john boehner, and that was the agreed upon format. he's been in conserves with him, and when push comes to shove, boehner cannot get these deals done in his caucus. the big change is not in the white house. it's in the culture of congress. it has beco
i think there is a deficit there of very broad-minded leadership, and there is certainly a deficit of trust between the congress and the president, and 20 republican in congress and the democrats. so plenty of fault to go around. >> o'donnell: dee dee, what about that? mitch mcconnell, who is really now at the heart of make something sort of deal today about how far he can take republicans, he says the president called him last week. it was the first time he's talked to the president...
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Dec 28, 2012
12/12
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i've been working with leaders to try to forge an agreement to grow our economy and shrink the deficit. a balanced plan that would cut spending a responsible way, but also ask the wealthiest americans to pay a little more and protect the middle class and everyone striving to get into the middle class. i still want to get this cone. it's the right thing for our families. but the hour for immediate action is here. it is now. we're now at the point where in just four days, every american's tax rates are scheduled to go up by law. every american's paycheck will get considerably smaller. and that would be the wrong thing to do. it would be bad for middle class families and bad for businesses that depend on family spending. forchew nat ew fortunately, con can prevent it from happening. i just had a good discussion about how to prevent this tax hike on the middle class. and i'm optimistic we may still be able to reach an agreement that can pass both houses in time. senators reid and mcconnell are working on such an agreement as we speak. but if an agreement isn't reached in time between senat
i've been working with leaders to try to forge an agreement to grow our economy and shrink the deficit. a balanced plan that would cut spending a responsible way, but also ask the wealthiest americans to pay a little more and protect the middle class and everyone striving to get into the middle class. i still want to get this cone. it's the right thing for our families. but the hour for immediate action is here. it is now. we're now at the point where in just four days, every american's tax...
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Dec 28, 2012
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what do you do about deficits? the truth is doing nothing at this point is the best impact they can have on deficits, because taxes will go up, spending will go down. that's the point of this deal. so to come to your point, yeah, i guess they could suddenly hug each other and do had this dance, but the reality is there are a lot of people who think, what we are dealing with is deficits because the budget looks better and we'll deal with the economy some other way. >> doing nothing is what they do best. mike, before we let you go, ed mackey malden running for the united states senate in massachusetts. >> he's never run statewide. do you agree with this? i think scott brown is smiling this morning? i think a race against ed markey well-known in washington, respected here and has taken strong positions on climate change and other issues. he's not a household name in massachusetts. scott brown is. there's a totally different electorate in this special election. scott brown likes this match upup. mike, would you call hi
what do you do about deficits? the truth is doing nothing at this point is the best impact they can have on deficits, because taxes will go up, spending will go down. that's the point of this deal. so to come to your point, yeah, i guess they could suddenly hug each other and do had this dance, but the reality is there are a lot of people who think, what we are dealing with is deficits because the budget looks better and we'll deal with the economy some other way. >> doing nothing is what...
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Dec 28, 2012
12/12
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the problem with the fiscal cliff is it would put in place deficit reduction, but it would put in deficit reduction too much, too quickly, and with the wrong parts of the budget. so it would let all of the tax cuts expire, it would let many things like the alternative minimum tax hit the middle class. it would have a big, broad-based sequester that goes into place, not gradually, like we would want, to help not derail an economic recovery, but abruptly, and it deals with the wrong parts of the budget. so what you want to do is replace this big amount deficit reduction, all hitting just at the time when the economic recovery is starting to take hold, with a more thoughtful plan that's phased in gradually. so it doesn't do too much deficit reduction up-front, but it puts in the necessary changes to health care cost, retirement, tax reform, all over time and puts us on a sustainable path to a better place. >> let me ask you a central question. is america different from europe? can america continue to run huge budget deficits, because the feds can buy treasuries and prop up the market, and be
the problem with the fiscal cliff is it would put in place deficit reduction, but it would put in deficit reduction too much, too quickly, and with the wrong parts of the budget. so it would let all of the tax cuts expire, it would let many things like the alternative minimum tax hit the middle class. it would have a big, broad-based sequester that goes into place, not gradually, like we would want, to help not derail an economic recovery, but abruptly, and it deals with the wrong parts of the...
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Dec 30, 2012
12/12
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part of that is deficit reduction. part of it is also making sure that we're investing, for example, in rebuilding our infrastructure, which is broken. and, you know, if we are putting people back to work, rebuilding roads, bridges, schools, in part paying for it by some of these broader long-term deficit reduction measures that need to take place, that will grow the economy at the same time as we're also setting our path for long-term fiscal stability. number three. you know, we've got a huge opportunity around energy. we are producing more energy, and america can become an energy exporter. how do we do that in a way that also deals with the environmental challenges we have at the same time? so that's going to be a third thing. but the most immediate thing i've got to do starting on january 1, if congress doesn't act before the end of the year, is to make sure that taxes are not going up on middle class families. because it is going to be very hard for the economy to sustain its current growth trends if suddenly we ha
part of that is deficit reduction. part of it is also making sure that we're investing, for example, in rebuilding our infrastructure, which is broken. and, you know, if we are putting people back to work, rebuilding roads, bridges, schools, in part paying for it by some of these broader long-term deficit reduction measures that need to take place, that will grow the economy at the same time as we're also setting our path for long-term fiscal stability. number three. you know, we've got a huge...
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Dec 23, 2012
12/12
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WMAR
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we don't have a short-term deficit problem. we have a jobs and growth problem and faltering recovery but we should put off the sequester, put off this grand bargain, come back, let the bush tax cuts expire, make sure the middle class -- >> off the cliff. >> the cliff is a manufactured media drama but the largest point is to say that the left are progressives supporting the great reforms of -- >> i would -- sflrs at a time when the richest are -- >> i would discount that maybe but on january 2nd when everyone's taxes go up, it may not feel manufactured but real. >> that's the point and this is what folks don't understand. where she's making a strong point is we're taking this, this incredible mallet and smash america and the people who will suffer are those in my community who want to go to college and lose avenues about how to do that, about the fbi agents cut that are protecting our borders and our nation from a challenge. people will be cut out on programs that support the poorest americans get access to healthy food and this
we don't have a short-term deficit problem. we have a jobs and growth problem and faltering recovery but we should put off the sequester, put off this grand bargain, come back, let the bush tax cuts expire, make sure the middle class -- >> off the cliff. >> the cliff is a manufactured media drama but the largest point is to say that the left are progressives supporting the great reforms of -- >> i would -- sflrs at a time when the richest are -- >> i would discount that...
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Dec 27, 2012
12/12
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health care, the biggest add to our deficit in this country is rising health care costs. do we need to tangle those? how do they interact with the changes that are going to be set up across the country. is it going to cost the taxpayer more or less? all those have to be in the realm of realistic facts and figures. >> you're in arizona today. many of your constituents worked over the holidays. do you think congress should have stayed in washington to work for an agreement? >> absolutely. absolutely. once you know, once the boehner plan "b" collapsed, all we got was a notification, you can go home. we'll call you when we're ready. boehner's got to get off -- the majority of the majority must agree to something. it's going to take democratic votes to pass a tough fiscal compromise and unless there is inclusion and discussion on both sides of the aisle about this issue, that compromise gets tougher and tougher. >> thank you for coming "outfront." >> appreciate it. thank you. >> now, on the other side of the aisle. republican congressman of wisconsin. congressman, you just hea
health care, the biggest add to our deficit in this country is rising health care costs. do we need to tangle those? how do they interact with the changes that are going to be set up across the country. is it going to cost the taxpayer more or less? all those have to be in the realm of realistic facts and figures. >> you're in arizona today. many of your constituents worked over the holidays. do you think congress should have stayed in washington to work for an agreement? >>...
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Dec 30, 2012
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WRC
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biggest sticking points is should new leff new from tax increases be used to pay down the country's deficit or used to cover the cost of preventing sweeping government spending cuts? no ordinary sunday. arriving at the capitol, congressional leaders' every move and every word under scrutiny, as the country waits, weighing in from the white house, the president, who appeared on "meet the press," pushed republicans to give on taxes. >> i think it's been very hard for speaker boehner and republican leader mcconnell to accept the fact that taxes on the wealthiest americans should go up a little bit as part of an overall deficit reduction package. >> reporter: inside closed door negotiations this weekend, aipds say there have been "constructive move." on key issues like taxes, including compromise on where to set higher rates for wealthier americans and avoiding a jump in inheritance taxes. but this afternoon, republican leader mitch mcconnell complained that democrats had failed to deliver a promised counteroffer. so mcconnell called for help, phoning vice president biden who came to the white
biggest sticking points is should new leff new from tax increases be used to pay down the country's deficit or used to cover the cost of preventing sweeping government spending cuts? no ordinary sunday. arriving at the capitol, congressional leaders' every move and every word under scrutiny, as the country waits, weighing in from the white house, the president, who appeared on "meet the press," pushed republicans to give on taxes. >> i think it's been very hard for speaker...
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Dec 25, 2012
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serious proposals to reduce the deficit and really end our national debt. potentially, a significant blow to the obamacare controversial o contraceptive mandate. the eighth circuit court of appeals in the preliminary injunction to stop the mandate for being enforced against the missouri catholic businesswne owners.the li the list of statesst o now, refg to set up state-run health care exchanges for insurance. it is growing. arizona becomes the latest to telling federal government but it will have to assume the burden of operating the exchange and the cost and the supervision, perhaps even running backstage, bringing the total number of states refusing to set up an exchange under obamacare to 17 states. ten other states remainm undecided as to the course they will take or it will be state, the way, the 17 states havenow e republican governors.ppellate we are joined now by peter johnson. it's great to see you. >> thank you for having me, louu dobbs. lou: what is your reaction totie that injunction against the contraceptive mandate? >> it is a surprisingri, in
serious proposals to reduce the deficit and really end our national debt. potentially, a significant blow to the obamacare controversial o contraceptive mandate. the eighth circuit court of appeals in the preliminary injunction to stop the mandate for being enforced against the missouri catholic businesswne owners.the li the list of statesst o now, refg to set up state-run health care exchanges for insurance. it is growing. arizona becomes the latest to telling federal government but it will...
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Dec 30, 2012
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it doesn't help make lowering future deficits any easier. so there are some things we need to change about the corporate tax code but in general i think we need to realize that if we set our country on the right path making the right investments in technology and education and really making sure we don't cut the necessary programs that can help us do that growth and so we have to make them a priority and perhaps deprioritize other spending areas we will be able to grow with the global economy . manufacturing has already come back to some degree i know that apple computers are actually moving a couple production facilities back to the united states from china. there's a real key is to make sure that we're continuing to invest in those types of investments and help us compete on a global scale. but we should also realize that it helps us when apple can produce their goods in china in a more cheap efficient manner than we could here because american consumers can get i pods and i phones on a much discounted basis from what it would be if we tri
it doesn't help make lowering future deficits any easier. so there are some things we need to change about the corporate tax code but in general i think we need to realize that if we set our country on the right path making the right investments in technology and education and really making sure we don't cut the necessary programs that can help us do that growth and so we have to make them a priority and perhaps deprioritize other spending areas we will be able to grow with the global economy ....
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Dec 25, 2012
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you said you would cut the deficit in half. it's still four years later, we still have a trillion dollar deficit. >> a roller coaster where for a long time it was thought to be a foregone conclusion the president would win. >> let's not. let's let him respond. >> while mitt romney came on strong, the president's lackluster performance, looking down, scowling, growling, left many democrats stunned. >> they all assumed the fetal position and sobbed in unison. that was terrible. it was hard to watch, but some of the analysis afterwards really exposed some deficiencies in the democratic machine. >> for the republicans, it was arguably the best moment of the whole year for their candidate. >> i don't think his campaign really kicked into high gear until that first debate when he started to get some momentum. >> unfortunately for romney -- ♪ here i am >> it was also the best wake-up call for president obama who came alive in the next two encounters. >> we have to reduce our deficit but we have to do it in a balanced way. >> worst n
you said you would cut the deficit in half. it's still four years later, we still have a trillion dollar deficit. >> a roller coaster where for a long time it was thought to be a foregone conclusion the president would win. >> let's not. let's let him respond. >> while mitt romney came on strong, the president's lackluster performance, looking down, scowling, growling, left many democrats stunned. >> they all assumed the fetal position and sobbed in unison. that was...
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Dec 29, 2012
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unemployment insurance for americans looking for a job and lays the ground work for more economic growth and deficit reduction. >> the president is optimistic that a deal can be reached midnight on new year's eve. listen to senate minority leader mitch mcconnell. >> we had a good meeting down at the white house. engaged in discussions in the hopes we can come forward as early as sunday and have a recommendation that i can make to my conference and the majority leader can make to his conference. >> and the senate is set to reconvene sunday at 1:00 eastern time. the house also expected to be in session on sunday. they'll start at 2:00 eastern time with the first votes coming at 6:30. let's head up to capitol hill. mike viqueira is there. so what? even if they reach a deal today or tomorrow? do we have time to get this dup? >> i think so, t.j. if they sign off from everybody in the senate. if everybody stands up, no & nobody objects. they call it unanimous consent around here. they can wave their hansory anything. badda bing, badda boom. it's out of here. you look at senate leaders on the floor, and yo
unemployment insurance for americans looking for a job and lays the ground work for more economic growth and deficit reduction. >> the president is optimistic that a deal can be reached midnight on new year's eve. listen to senate minority leader mitch mcconnell. >> we had a good meeting down at the white house. engaged in discussions in the hopes we can come forward as early as sunday and have a recommendation that i can make to my conference and the majority leader can make to his...
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Dec 24, 2012
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we are going to expand our dominance and are well by expanding our deficit and using our deficits to provide the rest of the world with the demand which is necessary to grow their economies, even at the expense of hours. and who is going to pay for the deficit? if i have an ever-expanding deficit, the bank tells me it is came over. but if you are the united states of america and there are certain other factors that i will touch upon later, what you can do is you can expand your deficit as long as you create the circumstances so that german entrepreneurs, later chinese, take their profit, which they earned and they send it to wall street. thus closing the cycle, the recycling loop. so, effectively what we have between 1940's and 1971, 1973, you had global surpluses being recycled from united states to the rest of the world. the capitalist world. the western world. ok? so, the united states was an exporter to europe and japan. it was making profits. it was then recycling to europe and japan. so they would keep on buying. once the surplus shifted to japan, germany, and china, the idea t
we are going to expand our dominance and are well by expanding our deficit and using our deficits to provide the rest of the world with the demand which is necessary to grow their economies, even at the expense of hours. and who is going to pay for the deficit? if i have an ever-expanding deficit, the bank tells me it is came over. but if you are the united states of america and there are certain other factors that i will touch upon later, what you can do is you can expand your deficit as long...
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Dec 27, 2012
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i think the words "come together" means something deficit to all of us. in the spirit of the holidays, in an effort to bring all our political leaders, i think "come together" means a lot. >> now, this come together message will go not only on coffee cups in the area but across old and new media. when we sat down and talked to customers here, it really really resonates with what customers want to see done. >> they do need to come together and i think they need to get this settled before we do go off the fiscal cliff because i think a lot of people are really stressed out. >>> think that message "come together" is exactly what needs to happen. i'm frustrated by six, 10 people who think they can hold out to get their last little pork or thing into the bill, that seems unfortunate. >> of course, in the age of social media, in particular, no message of any kind goes untweeted. we did hear from house speaker john boehner's spokesman, brendan buck, who tweeted quote my capitol hill location did not have an inspirational message. i feel so lost. and so it goes.
i think the words "come together" means something deficit to all of us. in the spirit of the holidays, in an effort to bring all our political leaders, i think "come together" means a lot. >> now, this come together message will go not only on coffee cups in the area but across old and new media. when we sat down and talked to customers here, it really really resonates with what customers want to see done. >> they do need to come together and i think they need to...
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Dec 22, 2012
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unemployment insurance for 2 million americans and lays the groundwork for further work on both growth and deficit reduction. that's an achievable goal. that can get done in ten days. >> yesterday the house speaker john boehner failed to garner enough support from his own party to even hold a vote on his plan to raise taxes for those with an income over $1 million. >> while we may have not been able to get the votes last night, to avert 99.81% of the tax increases, i don't think they weren't taking that out on me. they were dealing with the perception that somebody might accuse them of raising taxes. >> "outfront" tonight, chief white house correspondent jessica yellin and dana bash. ladies, nice to see both of you. jessica, we'll start with you. the president's message was short and sweet and kind of basic. what do you think is different this time around in what he is saying? >> well, what's different is it is less than two weeks until the new year and the president is about to leave for hawaii, and congress is going to be gone for christmas, too, and you know there is no more effective motivator
unemployment insurance for 2 million americans and lays the groundwork for further work on both growth and deficit reduction. that's an achievable goal. that can get done in ten days. >> yesterday the house speaker john boehner failed to garner enough support from his own party to even hold a vote on his plan to raise taxes for those with an income over $1 million. >> while we may have not been able to get the votes last night, to avert 99.81% of the tax increases, i don't think...
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i have a slightly deficit take. i certainly agree, banks have been on fire 40% versus s&p up the last six months. they've been terrific stocks recently. a lot of optimism gets put into these names and i see a lot of headwinds to tensipotentia pote it. >> being? >> regulatory pressure high. and keeping interest margins under pressure. loan demand is still pretty weak. cni, commercial and industrial loan demand is starting to weaken. you have political pressure and uncertainty, which remains high. there's a lot of problems here. one in particular, in regulation, i think is underappreciated here. you referenced it in your spot. the coming central clearing of derivatives mark, i think is a big problem. >> when i say basel-free, people's eyes glaze over, where are you regarding basel-free and what it means to profits? >> a fair question and huge unknown. we're starting to see some firms begin to reshape their business, particularly on the market side, where a lot of pressure is. there's a busy called fix income and commo
i have a slightly deficit take. i certainly agree, banks have been on fire 40% versus s&p up the last six months. they've been terrific stocks recently. a lot of optimism gets put into these names and i see a lot of headwinds to tensipotentia pote it. >> being? >> regulatory pressure high. and keeping interest margins under pressure. loan demand is still pretty weak. cni, commercial and industrial loan demand is starting to weaken. you have political pressure and uncertainty,...
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Dec 23, 2012
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you were a member of the bowles-simpson deficit commission and voted for the final report. let's remind people. that proposed almost $3 trillion in spending cuts. president obama's last offer, the one that the republicans rejected, was less than $1 trillion in spending cuts. we checked. that would be less than 2% of the $44 trillion the government will spend over the next decade. again, is that the best democrats can do? 2% of all the spending over the next deca >> you know, this conversation means exactly what is wrong in washington. i mean, just listen to the conversation you just had. it is he said/she said, blame the other guy. and, look, i tried to be constructive here and lay out an actual plan to get us nearly $4 trillion, by taking the offers that are on the table. speaker boehner and the president were so close and then speaker boehner went off on plan b. i never understood why. had no prospect of succeeding. it did not succeed, even in his own caucus. but now -- >> you are not answering my question. >> yes. because i'll tell you, something, because we only have ni
you were a member of the bowles-simpson deficit commission and voted for the final report. let's remind people. that proposed almost $3 trillion in spending cuts. president obama's last offer, the one that the republicans rejected, was less than $1 trillion in spending cuts. we checked. that would be less than 2% of the $44 trillion the government will spend over the next decade. again, is that the best democrats can do? 2% of all the spending over the next deca >> you know, this...
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Dec 26, 2012
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the fiscal cliff, that would certainly be no reason for a downgrade because we would be cutting the deficit and the debt. lori: right. >> but if we kick the can down the road here and don't do anything with a short-term solution, then i think it would be reasonable for the debt, excuse me for --. lori: another downgrade. >> for us to be downgraded, excuse me. lori: let me send it back over to you. there is a line of thinking if we do suffer a second credit downgrade that it could actually have more of ramification than just one downgrade because you do have a handful of credit agencies, right? if you're creditor of the united states and looking at the credit rating and now you have not just one but two, so you have a majority of more negative credit ratings versus pristine credit rating across the board, that actually might roil the markets. obviously you have europe in the background so that is keeping rates depressed as well as federal reserve. the second downgrade, that really has to raise the eyebrows of market participants in particular? >> i think people have gotten sophisticated abou
the fiscal cliff, that would certainly be no reason for a downgrade because we would be cutting the deficit and the debt. lori: right. >> but if we kick the can down the road here and don't do anything with a short-term solution, then i think it would be reasonable for the debt, excuse me for --. lori: another downgrade. >> for us to be downgraded, excuse me. lori: let me send it back over to you. there is a line of thinking if we do suffer a second credit downgrade that it could...
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we have a $16 trillion deficit right now. we have the deficit because of social security, medicaid, medicare, welfare, food stamps -- all policies put into effect by the democratic party. everything is socialism. thomas jefferson said it best -- the republic is doomed. people sacrifice -- i'm a libertarian. i am more objective. i'm not a republican or democrats. i have to wonder if i want to live in this country. 29% of americans got some kind of assistance when ronald reagan was president. i have to consider and i'm considering moving to a tropical island and watching america go down the drain. we need to abolish social security, medicare, and medicaid. host: i will stop you there. we appreciate your thoughts. joseph says -- will go back to stay but by the president on the passing of norman schwarzkopf. host: "his legacy will e ndure." back to your calls. caller: good morning. god bless us. [indiscernible] where is the love? .e're at a church when the president and everybody was running. the church was all over the program.
we have a $16 trillion deficit right now. we have the deficit because of social security, medicaid, medicare, welfare, food stamps -- all policies put into effect by the democratic party. everything is socialism. thomas jefferson said it best -- the republic is doomed. people sacrifice -- i'm a libertarian. i am more objective. i'm not a republican or democrats. i have to wonder if i want to live in this country. 29% of americans got some kind of assistance when ronald reagan was president. i...
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i don't believe republicans care about the deficit as the deficit. none of their behavior indicates that. and i mean, they're behavior during tr go. works bush years and the behavior i just indicated where they revoked $500 billion in cuts. it's fine to say it's not the deficit. they care about things like reducing made care over the ling longrun or they don't like the fact the entitlement state is making people -- what are the actual principles at play here in these negotiations? i am confused. >> i think that republicans do care about the denver sit. i think they care about spending more than the deficit. >> well put, i agree. >> and i suspect that if you were to poll the republican caucus on the hill, there is a overwhelming majority of people that say -- the country is lived beyond its means and somehow, somewhere, we have to get it under control. the way to do that, obviously, is where the money is being spend which is entitlement programs. as a political matter nobody wants to talk about cuts. i agree with you. we talk about bending the curve.
i don't believe republicans care about the deficit as the deficit. none of their behavior indicates that. and i mean, they're behavior during tr go. works bush years and the behavior i just indicated where they revoked $500 billion in cuts. it's fine to say it's not the deficit. they care about things like reducing made care over the ling longrun or they don't like the fact the entitlement state is making people -- what are the actual principles at play here in these negotiations? i am...
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americans looking for a job, and lays the ground work for future progress on more economic growth and deficit reduction. >> republicans say they want a deal as well, but they highlighted their biggest sticking points today in their weekly address. listen now to missouri senator roy blount. >> senate democrats have spent months drawing partisan lines in the sand. the president's proposal to raise tax on the top 2% of americans won't even pay one-third of the annual interest that's now owed on this massive $16 trillion debt. in fact, the president's tax hike would only fund the government for eight days. >> the senate is set to reconvene sunday at 1:00 eastern time. the house expected to be in session sunday. are going to start around 2:00 with the first votes coming around 6:30 p.m. let's head on over to the white house. kristen welker standing by. a lot happening in washington, d.c. a lot happening i would assume at the white house. but how engaged is the presidented to in moving this thing forward? >> reporter: good afternoon, t.j. i am told there are conversations going on at the staff leve
americans looking for a job, and lays the ground work for future progress on more economic growth and deficit reduction. >> republicans say they want a deal as well, but they highlighted their biggest sticking points today in their weekly address. listen now to missouri senator roy blount. >> senate democrats have spent months drawing partisan lines in the sand. the president's proposal to raise tax on the top 2% of americans won't even pay one-third of the annual interest that's...
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Dec 27, 2012
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too much deficit reduction, too quickly, and we could push the economy into a recession. that's just dumb. >> it is very dumb. now, you've been in many, many, many of these negotiations? you've been in the backrooms of a lot of the ongoing negotiations, now, do you think they have any chance of getting a deal before the first of the year? >> i'm always hopeful, but i'm less hopeful as every day passes. the problem is the rhetoric that's flying back and forth between republicans and democrats sounds like we're still having an election that it never was over. i think that now -- now that we've had an election, and the american public has spoken, whatever they meant, it's time for the politicians to get together, come together as starbucks is saying, and get something done. nobody's going to get everything they want. but it's so much more important to solve the problem than for one side or the other to get what they want or blame the other. the atmosphere is just wrong. >> when you hear the argument for going over the cliff. when it's been told to me by both democrats and re
too much deficit reduction, too quickly, and we could push the economy into a recession. that's just dumb. >> it is very dumb. now, you've been in many, many, many of these negotiations? you've been in the backrooms of a lot of the ongoing negotiations, now, do you think they have any chance of getting a deal before the first of the year? >> i'm always hopeful, but i'm less hopeful as every day passes. the problem is the rhetoric that's flying back and forth between republicans and...
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we need cuts and deal with the deficit. you have can't do this in a way to do in a sudden flash. >> juan -- >> juan: hold on. excuse me. do you think republicans have no complicity in passing two wars without funding them? and passing prescription drugs, no funding -- >> andrea: last time i checked a majority of democrats voted if for war. >> juan: republicans voted for this as well is all my point. >> andrea: entitlement, they're not miles apart? >> juan: they're not. >> andrea: what is the plan. >> juan: put on the table change the cpi and change the rate of growth. >> what table? >> eric: slow the rate of growth is not a cut. >> juan: it is. >> eric: it's not. >> juan: even boehner says it's a cut. the left thinks it's a cut. secondly, the president has -- go up to 400 if you want. so what we are talking about is a cut for 99% of americans. they keep tax cuts. you think republicans would celebrate. >> drinking the kool-aid. >> eric: i agree with you that the republicans are no better in this debate. >> juan: oh, well the
we need cuts and deal with the deficit. you have can't do this in a way to do in a sudden flash. >> juan -- >> juan: hold on. excuse me. do you think republicans have no complicity in passing two wars without funding them? and passing prescription drugs, no funding -- >> andrea: last time i checked a majority of democrats voted if for war. >> juan: republicans voted for this as well is all my point. >> andrea: entitlement, they're not miles apart? >> juan:...
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>> there area i variety of different things and the obvious one is we're running a national deficit at a scale that's unsustainable. when it's over $1 trillion like it's been for the last three years that will create some situations where just crisis emerged. that's the first part. the second part is the economy and not pointing fingers at anybody, but the economy is not back on track. there's still a significant level of unemployment and the amount of people who are actually participating and the workforce is down, so you have all of the economic components of this constant situation of where there are these constant fiscal problems. having said that, one of the things that you're seeing in this particular debate and why i'm feeling better about this particular exchange is the sense that, look, when the policy outcome becomes greater than the political payoff, that's when you see bipartisan ship begin to emerge and i think what you're seeing from both sides is the policy outcome is becoming more important and you'll see it program that we'll move in that direction from the fiscal clef
>> there area i variety of different things and the obvious one is we're running a national deficit at a scale that's unsustainable. when it's over $1 trillion like it's been for the last three years that will create some situations where just crisis emerged. that's the first part. the second part is the economy and not pointing fingers at anybody, but the economy is not back on track. there's still a significant level of unemployment and the amount of people who are actually...
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. >> catherine, isn't it their deficit in large part deficit? >> of course, but they have political amnesia. ideology is the science of idiots. here's one of these moments where when you live inside the box and refuse to look at empirical evidence, refuse to understand history to show us how economies work, how tax cuts or increases affect populations, then they are going to follow this line of idiocy over their own, i think, political cliff. and the partisanship is going to wreak tremendous havoc on the republican party in the upcoming elections. >> we have limited time. i want to go back to john harwood. is there a time here, john, when we're going to see the markets start to react or are we expecting most traders to wait until after the first to make big decisions? >> i think that's when they reacted. if we go over the cliff, even for a couple of days, you're going to see a reaction. i think at the end of the day you will see action if we go over the cliff for a couple of days, because i don't agree with jonathan that they are immune to publi
. >> catherine, isn't it their deficit in large part deficit? >> of course, but they have political amnesia. ideology is the science of idiots. here's one of these moments where when you live inside the box and refuse to look at empirical evidence, refuse to understand history to show us how economies work, how tax cuts or increases affect populations, then they are going to follow this line of idiocy over their own, i think, political cliff. and the partisanship is going to wreak...
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Dec 29, 2012
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extending tax cuts while doing nothing to curb spending or address the long-term deficit crisis. if they fail to pass a mini-deal, almost everyone's income taxes will go up. even if the income taxes are extended virtually all workers are due to see less in their paycheck as the temporary tax increase is set to inspire. the prospects are quote not too promising they'll get to a bipartisan agreement to prevent everyone's taxes from going up. david? >> our chief white house correspondent jon karl. this waiting game is already affecting americans' 401 cans. the stock market, five straight losses. let's bring in bianna golodryga. >> take a look at what happened just the few days. the dow lost 158 points. for the week, down 252 points. david, it's real money. lost 3,000, $4,000. december is traditionally a good month for the markets. >> and for home sales. here's what the president had to say about that. >> america wonder why it is, in this town for some reason, you can't get stuff done in an organized timetable. why everything has to wait until the last minute. we're now at the last m
extending tax cuts while doing nothing to curb spending or address the long-term deficit crisis. if they fail to pass a mini-deal, almost everyone's income taxes will go up. even if the income taxes are extended virtually all workers are due to see less in their paycheck as the temporary tax increase is set to inspire. the prospects are quote not too promising they'll get to a bipartisan agreement to prevent everyone's taxes from going up. david? >> our chief white house correspondent jon...